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Australian Government OS-Help Loan Scheme

The Australian Government provides loans to assist eligible students to undertake studies overseas that will contribute to their Australian courses. An overview of the criteria are listed below and more detail can be found in the application kit, available from International Services, Level 4, Jane Foss Russell Building.

Eligibility

have not received OS-HELP assistance on more than one previous occasion;

are currently enrolled as a Commonwealth supported student in an course at the University of Sydney;

have completed one full year of study (48 Credit Points) towards the course you are enrolled in currently as a Commonwealth supported student (HECS-HELP);

are studying on an approved exchange program, undertaking an overseas professional placement (clinical/industry/internship), fieldwork program or other course that will contribute as credit for the course in which you are currently enrolled at the University of Sydney;

will have to complete at least 0.125 EFTSL (6 credits) in your course on return from your overseas study;

have not been granted OS-HELP assistance by another university for an overlapping six month period; and

have not completed the overseas study before making this OS-HELP application.

*According to the Commonwealth definition of "full-time" as explained in the application forms

Loan Details

Non-Asia destinations - Up to $6,362 (indexed to inflation) for a 6 month study period. There are also smaller loan amounts available – $2,000 and $4,000.

Asian destinations - Up to $7,635 (indexed to inflation) for a 6 month study period. There are also smaller loan amounts available – $2,500 & $5,000.

An additional $1,018 if you will be undertaking a relevant and endorsed Asian language study in preparation for study in Asia (this course is not to count for credit and application/enrolment evidence must be provided)

The loan amount is added to your existing HECS debt, indexed accordingly, and will have the same repayment conditions as that debt. The loan rate normally increases annually with the CPI. There is no loan fee.

Second Loans

If you are studying overseas for two semesters, you may apply for a second loan. You can do this at the time you apply for the first loan or in a later round. This second loan can only be assessed approximately four weeks prior to the end of your first six month period.

Payment of Loan

To receive your OS-HELP loan you must:

complete and submit an OS-HELP Debt Confirmation Form; and

confirm your bank details upon accepting the formal loan offer

The OS-HELP debt is incurred on the day that the you receive the money. The money will be paid by electronic transfer of funds into a bank account you nominate. It takes approximately 10 working days from the time the fund transfer is submitted to University Finance by the International Exchange Program.

Withdrawing from the Loan program

Before being paidIf a student is selected for an OS-HELP loan and his/her circumstances change so that he/she no longer meet the eligibility criteria or it is determined that he/she has provided false or misleading information but has not been paid the loan, the loan offer will be withdrawn.

After being paidIf the loan has already been paid to the student and his/her circumstances change so that the student is no longer eligible or able to study overseas, the debt has already been incurred and the student can only repay the debt through the Australian Taxation Office.

If it is discovered or there is reason to believe that the student provided false or misleading information as part of the application process and the student has already incurred an OS-HELP debt, the University must notify the Commonwealth immediately of the suspected offence.